CTG bids for EDP, EDPR to be made simultaneously

The Securities and Exchange Commission (CMVM) has clarified that the China Three Gorges (CTG) 's takeover bids on EDP and EDP Renováveis must be done simultaneously. 

The information was released in response to the inquiry raised by EDP Renováveis to CMVM. EDP Renováveis asked the commission if it was "legitimate to provide as a condition for the launching of a tender offer for a controlled company (in this case, EDP-R) to acquire control of the parent company (in this case EDP), thus imposing a sequential structure of the two offers".